Loop Capital Lowers Crocs (NASDAQ:CROX) Price Target to $150.00

Crocs (NASDAQ:CROX) had its price objective lowered by equities researchers at Loop Capital from $155.00 to $150.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the textile maker’s stock. Loop Capital’s price objective would indicate a potential upside of 37.00% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Monness Crespi & Hardt reduced their price objective on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays dropped their target price on Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday. Piper Sandler restated an “overweight” rating and issued a $170.00 price target on shares of Crocs in a report on Friday, August 23rd. Guggenheim lowered their target price on shares of Crocs from $182.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday. Finally, StockNews.com upgraded shares of Crocs from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.00.

Crocs Price Performance

Crocs stock traded down $2.09 during mid-day trading on Wednesday, reaching $109.49. The company had a trading volume of 2,563,151 shares, compared to its average volume of 1,321,601. The stock’s 50-day simple moving average is $137.69 and its 200-day simple moving average is $138.65. The company has a market capitalization of $6.50 billion, a P/E ratio of 8.25, a P/E/G ratio of 1.35 and a beta of 1.99. Crocs has a 1 year low of $74.00 and a 1 year high of $165.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.25 earnings per share. On average, equities analysts predict that Crocs will post 12.88 EPS for the current year.

Insider Activity

In related news, Director John B. Replogle acquired 1,996 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the purchase, the director now directly owns 7,064 shares in the company, valued at $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director John B. Replogle acquired 1,996 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $123.96 per share, with a total value of $247,424.16. Following the purchase, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas J. Treff sold 10,594 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $132.38, for a total value of $1,402,433.72. Following the sale, the director now directly owns 81,254 shares of the company’s stock, valued at approximately $10,756,404.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Crocs

Institutional investors have recently bought and sold shares of the business. Davis Investment Partners LLC grew its stake in Crocs by 0.8% in the third quarter. Davis Investment Partners LLC now owns 9,673 shares of the textile maker’s stock valued at $1,362,000 after purchasing an additional 77 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Crocs by 8.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,041 shares of the textile maker’s stock valued at $152,000 after purchasing an additional 85 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Crocs by 8.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 1,350 shares of the textile maker’s stock valued at $195,000 after acquiring an additional 100 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Crocs by 1.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 7,248 shares of the textile maker’s stock worth $1,036,000 after buying an additional 111 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its holdings in Crocs by 4.0% during the third quarter. Clear Harbor Asset Management LLC now owns 3,014 shares of the textile maker’s stock valued at $436,000 after acquiring an additional 115 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.